Maine Lawmakers Seek Public Input On Business Tax Breaks Report
AUGUSTA, Maine - Maine lawmakers are asking the public to weigh in on a report calling for a new look at tax breaks for businesses in the state. The Legislature's Government Oversight Committee is set to hold a public hearing Friday, Feb. 8 in Augusta. The public can also submit written comments.
The Legislature's Office of Program Evaluation & Government Accountability released a report in January that recommended lawmakers update such tax breaks in light of workforce shortages.
Maine provides tax benefits to any Maine business that hires at least five net new employees. Businesses reach a payment equal to a portion of those employees' withholding state taxes.
From fiscal year 2012 through 2018, 208 businesses received $84 million in such payments. The report estimates such businesses added nearly 10,000 new jobs.